Oak Ridge Investments LLC Makes New $408,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Oak Ridge Investments LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,450 shares of the software maker’s stock, valued at approximately $408,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Manhattan Associates in the 1st quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $31,000. Finally, DT Investment Partners LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Raymond James upped their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $264.35 on Friday. The firm has a 50 day simple moving average of $275.85 and a 200-day simple moving average of $248.10. The stock has a market capitalization of $16.15 billion, a PE ratio of 75.10 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $198.45 and a 12-month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.